NOVO-OGARYOVO, Russia, July 20 (RIA Novosti)
Foreign direct investment in the Russian economy increased by 39 percent year on year in January-June 2011, to over $27 billion, Russia's Prime Minister Vladimir Putin said on Wednesday.
"The main task now is to maintain that positive trend and focus on the quality of long-term investment to ensure that technology and innovations flow into our country along with capital, and modern production facilities and jobs are created," Putin said at a meeting of the government commission on foreign investment.
Putin said that foreign direct investment in Russia in the first half of 2011 came close to the level of the pre-crisis year 2007 when it stood at $29.6 billion.
The recovery of the Russian economy and the government's measures to improve the business climate in the country give hope that FDI could hit $60-70 billion, Putin said.
According to the Russian Central Bank's estimates, foreign direct investment in Russia grew to $41.2 billion in 2010 from $36.5 billion in 2009. FDI stood at $55.1 billion in 2007 and hit a record $75.5 billion in 2008.
Russia's net private capital outflow shrank to $9.9 billion in the second quarter of 2011 from $21.3 billion in the first quarter while June registered a net capital inflow of $3 billion for the first time since the start of the year.
Russia's Central Bank and Finance Ministry expect net private capital outflow to reach $30-35 billion in 2011, compared with $31.2 billion in 2010.
Add to blog
You may place this material on your blog by copying the link.
The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.